News & Views

Friendly Share Buy-Backs and Section 48(8) Of the Companies Act

The share buy-back has long been an effective manner to consolidate ownership within a company. A share buy-back in many instances is also attractive from a tax perspective because it is considered a dividend and thus does not give rise to a capital gains event.

Share buy-backs are governed by Section 48 of the Companies Act 71 of 2008 (“the Act”), which allows the Board of Directors (the “Board”) of a company to determine that the company will acquire its own shares, subject to a solvency and liquidity test. Matthew Delaney Legal Consultant at Resolve Corporate Services takes a closer look.

Moore Debt Advisory – Johannesburg

We are pleased to introduce Moore Debt Advisory, the most recent addition to Moore Johannesburg’s advisory offering. We aim to be a leading South African independent debt advisory firm within the Moore Global network, offering specialist debt advisory and debt raising services alongside and in partnership with our existing South African corporate finance advisory offering.

Leading with Ethics

October is ethics month and the question at the top of our minds this month is, “Is it possible for a person of questionable morals or ethics to do ethical business or lead a good company?” For the record, we believe that the answer is a firm “no”, but that the question warrants discussion. Tarryn Wright and Anusha Ramraj delve a bit deeper into this topic.

What to do about Internal Audit

Most organisations are currently looking at their internal resources and cost effectiveness in these turbulent times. Presumably, one of their conundrums will be whether or not to retain the internal audit function. Louw van der Merwe, Director of Moore Risk Services, takes a closer look.
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